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The number of small IT- companies in Russia will grow 5 times by 2020 (CNews) [06.06.07]

The number of small IT- companies in Russia will grow 5 times by 2020, says German Gref, Russian Minister of Economic Development and Trade (MEDT).  The forecast is part of the Russian Federation’s Development Strategy Project, designed by MEDT. 

German Gref says the share of small science and IT companies is to grow 5 times, from present 2% to 10%. The calculations are a part of the Development Strategy Project of the Russian Federation up to 2020.  At the same time the number of trade businesses will fall (from 50% in 2007 to 25% in 2020), while and the number of service companies will grow (from 15% in 2007 to 30% in 2020).  This growth is connected with the development of IT techno-parks in Russia.  The Russian Ministry of IT and Communication forecasts that by 2011 the number of technoparks’ employees will reach 75,000.  Gref noted that small business still very much depends on investments with the current demand of upto 1 trillion rubles, of which only 20% is satisfied.  The Minister said that there were 1.4 billion small businesses in Russia in January 2007, reported CNews.